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the european politicians and believing in the euro project, are you? >> well, i was. breaking up, wouldn't be here -- >> you're going to tell me that you're convicted on the aussie/dollar. >> no, i'm not convicted. i'm admitting that i've been wrong. we think aussie is terribly overvalued and that's the problem, frankly. >> good to have you on. plenty more to come from you. the ecb is going to keep its interest rates at a record low today. that's what we expect, anyway. the markets will be listening to the delivery tone of mario draghi's delivery. silvia wadhwa is back at her delivery post. 2013 [ speaking foreign language ]. >> everything is going to stay the same. the ecb hasn't got anything to do right now. they've pretty much said everything on track, probably the best, cheapest intervention they had so far was the program. every month announced again. we stand ready to act, but so far they haven't had to do anything because nobody has asked for an omt program yet. but the market believes that the ecb is there as the backstop. so far, that was very successful. in terms of anything el
of the most indebted regions asking madrid for more than nine million euros. >>> roche strides lower after posting solid earnings on strong sales of its cancer medicine. analysts warn about the loss of exclusive rights to a key chemotherapy drug. >>> game over for super mario and friend to turn a profit. nintendo unexpectedly swings to its full-year forecast to a loss showing a poor uptake for its wii u consoles. >>> see you in september. australia's prime minister sets a surprise election date saying it will create certainty for business. >>> okay. welcome to today's program. and you know, we spent all that time waiting for five. today it's about the ten. >> how long did it take you to come up with that? >> about ten seconds ago. >> very good. we're talking about mobile phones. >> yeah. >> do you think people can guess we're talking about the iphone 5. you're waiting for 5. >> you'll about the 10, ladies and gentlemen, blackberry 10. is it the rim lazarus move? >> we saw stocks get whacked yesterday. >>> in corporate news, a couple of things to keep an eye on in markets. the italian oil c
late in 2012. german companies sold over one trillion euros worth of goods and services by november. that is 4% of on the year before. however, that growth has slowed significantly. in recent months, analysts are blaming weak demand from the eurozone. germany is, of course, one of the world's top exporters. exporters account for almost half of germany's gdp. investors reacted negatively to the deteriorating export situation snuffing out a rally in frankfurt and sending the dax to a - close. our correspondence sent us this summary of the day's trading action from the frankfurt stock exchange. >> a few aspects of the export numbers from germany were well received on the trading floor. for example, the news that demand from other eurozone countries seems to have stabilized. of course, that was not enough to really lift the markets here. investors are a bit hesitant ahead of the earnings report season, and ahead of a meeting of the european central bank's council here in frankfurt this thursday. good news for the eurozone came in for the money markets. the permanent euro rescue fund auc
. investigators are saying that the bank manipulated the euro bor. it influences interest rates from everything on home mortgages to car loans. deutsche bank is under investigation for manipulating the libor, the more widely used london interbank interest rate. the dax finished within striking distance of two-year highs. our correspondent sent us this summary of the first trading day of the week. it is yet another unfavorable --, it is yet another unfavorable -- >> it is yet another unfavorable report about an investigation into deutsche bank. penalties could be hefty. still, people are quite relaxed. deutsche bank going up for the day. the trading day was relatively quiet and relaxed, but the level remains high. that high level is part of the reason why boom this bank -- the bundesbank says that germans are richer than ever before. half of the wealth -- the growth in wealth was attributable to the enormous rise in share prices. >> the dax finished down by 1/3 of 1%. the euro stoxx 50 pretty much flat. the dow trading down just slightly. the euro trading at a value of 1.3452. well, who is going
. the german euro booked a 1 million litigation charge which led to restructuring. in an analyst call, it was said the group does not need to issue more sales but left the door open for the cocoa bonds to comply with u.s. regulations. >> meanwhile, santander shares are trading lower after the net profit more than halved to 2.2 billion euros in 2012, hurt by write-downs on property asset necessary spain and a slowdown in latin america. santander says it's returning more than 24 billion worth of ltr loans having taken 35 billion in ultra cheap etr funding. shares down about 2.5%. there's stephane pedrazzi now joins us from madrid. stephane, what's the reaction? >> we've seen a limited market reaction at the open. it's now trading 2.5% lower. the numbers were below expectations. the net profits were the weakest for the last 13 years. 2.21 billion euros. the contends of reuters was at 2.5 billion. there were some massive provisions last year. it's not a big surprise. 18.8 billion euros in total to cover potential losses on the property portfolio. santander says it has completed now its pr
euros in debt. the treasury's funding this year is being outlined in madrid as we speak. as we get details on that, we'll absolutely bring them to you. we're talking about nations showing up and saying, give us the help. but spain hasn't even had to go that far. >> the spanish base can get some of on their money if they declare official emergencies. what they're trying to do is to avoid saying we really need the help, we're in trouble. all these countries, as the situation continues, it's clear they won't appear to be the only ones to call the situation off. and the spanish are aware of the fact that everyone else is aware of. we can deal with these countries. spain itself is a significantly different issue. this is a european problem, a potentially fatal one, but one that the spanish isn't really up to. >> can we still get beyond the german elections before there is any activation of the omc? >> we're talking about -- >> or can we go everywhere? >> the issue with the omt, if you're a central banker's performance, it's all these acronyms and different names. it's worth bearing in m
markets in europe. perhaps we're seeing a special case of that in europe. >> do you expect the euro to remain weak for the rest of the year? >> i expect the eurozone crisis to remain weak. people will look carefully at special situations across europe. >> and best performer of 2013? >> it's impossible to tell. let's say the whole of the market. >> very diplomatic answer there. david simple sop, thank you very much for coming by. some hopeful signs there. straight ahead on the program, talking of hopeful signs, our next guest is at u.s. oil production not seen since the 50s. what does it mean? we'll explore that when we come back. . >>> welcome back to "worldwide exchange." these are your headlines. the bank of japan steps up its easing agenda under heavy government pressure, doubling its inflation target and promising open ended qe starting next year. >>> president obama lays out a vision for his second term in his innagul address. >>> and this is the face of the new mr. euro. earlier, we had a nine to one ratio of decliner toes advancers.inaugural. earlier, we had a nine to one rat
the australian dollar, canadian dollar, singapore dollar and the euro will be the strongest currencies going forward. the reason is -- david: as good as gold though? >> gold will be the best every time. no question about that because even the australian reserve bank which i would say australia is a very strong currency, a lot of inflows in the small capital market, but even they, the reserve bank of australia cutting rates. they are all going to go down somewhat against gold but on a relative basis some currencies will do better than others. >> where does the u.s. dollar fit into all of this, michael? >> we're going to see i think a year of two halves of the u.s. dollar. first half of the year, continued dollar weakness. the second half of the year i think we will see the dollar gain some ground against the euro, certainly against the yen. david: michael, one thing that scares a lot of people, we saw at different times where one country tries to make its export goods cheaper by devaluing their currency and its neighbor will try to do the same and there will be a war back and forth and eventu
this morning been up to 89.35. euro/yen higher, stipulating around the 118 mark, as well. euro/dollar had big moves yesterday, posting with the spanish auction mr. draghi and the ecb coming out saying it was unanimous about no interest rate cuts whereas in the previous month there had been some discussion about that. euro/dollar, 11.3260. let's bring you up to speed with the asian trading session today as they wrap up the week. li sixuan joins us for the first time today. >> thanks, ross. japan was a clear outperformer after shinzo abe unveiled his massive stimulus plan. and the nikkei gained 1.4% today. just to put it into context, this index is up for the ninth straight week, its longest winning streak since late 1988. shares of stocks surged to nearly 5% after the operator of clothing chain unicore raised its full year guidance. but hotter than expected cpi data from china put new pressure on the shanghai deposit. there will be more curbs to taint housing prices. meanwhile, weakness in china's blue chips dropped the hang seng lower. but hsbc did lend some support after the bank said yester
've been up to 89.67. euro/yen, up if you recall, 1119.34 is where we stand at the moment. euro/dollar, 11.335 55, holding on to the gains that we have seen on that particular cross rates. we have industrial production coming out in under an hour's time. that's where we trade right in and out in europe. let bring you the first update of the day from asia. li sixuan is out of singapore. >> hi. thank you, ross. asian markets mostly in the green today. and the outperformer is still china's shanghai composite hitting a seven-month high. this after security regulators said beijing can't miss the quota for investment markets. if you recall, late last week, a top official tr china's signal said growth could come in at 7.7. surpassing beijing's target of 7.5%. sen second mainland stocks finished with .64%. over 15% after profit warnings. and the market is out of action today celebrating the coming of age day. mon tar policy does have an impact on the yen today. the japanese currency soft.ed to a the 1/2 year low against the greenback. we'll see how that market reacts when it comes back online tomo
the euro touching a two week high in intraday trading and the u.s. dollar index posting slight gains after lawmakers approved a last minute fiscal cliff deal but the political showdown is far weeks away one of the best ways to make money in the currency market this year. liz: last week we had somebody who said buy the south african rand. we have a senior for ren currency strategist and they have got some ideas. before we get to your favorite picks let me tackle the dollar. every time we do quantitative easing, that tends to be dollar negative, very low rates. we don't have a strong dollar at the moment in trade, but what do you think about the u.s. to rar right now? nick, you first. a bit of a mixed picture. easing will be nech for the u.s. commodities and euro. so maybe the dollar will hold up against those currencies. david: chris, what about you, what do you think about the dollar. >> i have to be in agreement with our fellow guest there. when we look at the dollar specifically. we're here race to the base globally. specifically with the bank of japan and potentially later in the year w
yielding 1.5%. as far as currency markets, the euro/dollar at 1.3277. couldn't sustain it over 1.34. some comments saying the euro exchange rate is dangerously high. stepping down, as head of the euro group. they'll decide the success on january 21. dollar/yen, 87.88. and aussie dollar is over 1.0540. we'll bring you up to date with events in asia. we have more from singapore. >> sure, thank you. those asian markets finished in the red. the nikkei suffered its worst daily showing in eight months despite upbeat machinery orders data for november. a rebound in the yen fueled profit-taking in exporters. shares of al nippon airways slipped 1.6% today. and some boeing suppliers such as the battery maker gu uasa tumbled. the shanghai composite pulled back .7% after hitting a 7.5-month high yesterday. developers continued to lose ground after strong gains since q4 last year. this despite talk of delaying the property tax reform due to insufficient planning and law making. >>> in hong kong all eyes on the chief executive's maiden policy speech with a focus on measures to tackle the housing crisis
news, we'll get to that. reaction to the economics in the euro, as you were. >> a reminder, europe can be somewhat close to zero this year, output same as last year, maybe down if we get a decent follow in from the states, maybe clawing back to zero. with the gap between the two, the divergence is the greatest that i've seen since the start of the euro in the '90s. so this is not improving. >> economic divergence is great. market performance is something entirely different. >> yeah. money has to go somewhere. investors, investors around the world are looking for yield. the u.s. investors are looking for yield most of all. they sell the dollar, they buy stuff with yield. this morning, if -- if italian government debt has more yield than other things, then apparently that's just the job. so the euro is likely to go up to 1.34 against the dollar in this move. dollar/yen higher, equities higher. a risk on morning without anybody overthinking it. >> exactly. with the yields being slightly lower than they were this morning as part of that move. the house of representatives passing a bill lat
higher on the bund yields. sannish yields back over the 5% mark. on the currency markets, euro/dollar is at 1.3361. dollar/yen pulling away from its nine-month highs at 88.70th at the moment, as well. that's where we stand in europe. sixuan has more for us from singapore in the asian session. >> sure. thank you, ross. asian markets were a bit of a mixed bag. the shanghai composite gained .6% after yesterday's 3% job. since then, numbers were boosted by china's top security official who said beijing could lift the quota for investors to invest in the mainland markets by as much as nine times. environmental stocks surged. aerospace stock took off on an upbeat industry outlook. the hang seng finished marginally in the red. oil majors and telcos were the market laggers. persisting weakness in the yen boosted exporters. meanwhile, in technology shares wait on south korea kospi ending lower with 1.2%. in australia, the asx 200 ended just a touch below the line. miners were weaker. more on that from our guest later in the show. back to you, ross. >> thanks for that, swish won. catch y
next policy meeting. more on that in just a few minutes. but the euro's also lower against the yen. the euro/yen currently changing hands at 117.74-76. taking a look at other markets in the asia pacific region, south korea's kospi, that's trading higher. up half a percent. 1,994. let's take a look at australia. the benchmark index is up by 1/3 of a percent. 4,733. >>> well, policy makers at japan's central bank will discuss whether to take further money-boosting steps at a two-day meeting starting next week. they're apparently responding to the governments call for more powerful measures to tackle deflation and support the nation's recovery. a 2% inflation goal is expected to be included in a document to be exchanged between the bank of japan and the government. the b.o.j. policy makers are to show in writing how they plan to achieve the target requested by prime minister shinzo abe. now, it's likely to be a joint statement and not a legally binding policy accord that abe had originally sought. the aim is to maintain the central bank's independence. b.o.j. policy makers are conside
will consider esm bonds an important investment asset. along with other euro denominated bonds issued by major european nations. >> the government plans to use the foreign currency bonds to continue to buying esm bonds. government officials see the moreover as a way to stabilize the european economy and discourage traders from receiving the safety of the yen in case debt problems worsen. >>> unemployment in the eurozone renewed record highs for four straight months in november. the jobless rate was especially high in the countries that continue to implement austerity measures. the eu statistics office announced unemployment in the zone stood at 11.8%. up 0.1 percentage points since october and highest since the euro was introduced in 1999. within the zone, spain showed the highest rate. it rose from 26.6% in spain. many young people out of work under half of those under 25 were jobless in the month. up 0.7 points since october. in portugal, unemployment stood at 16.3%. 14.6% in ireland. for greece, latest data up only to september. the jobless rate in that month, 26%. 0.7 percentage points hig
% of those surveyed would prefer the uk to leave the euro. >> i should have said leave the european union. britain can't leave that monetary issue. we'll have plenty more on the relationship between britain and europe. for now, we can look at the relationship with markets. the euro stoxx 6700 is down about 0.4% today. not a done of differentiation. the biggest gainer, interestingly, is monti paschi. some of the airlines are struggling, too, on the back of ryan air's results. now take a look at what's happening across the bourses. we're seeing somewhat again of a trading pattern here after the last several trading sessions where it's not consistent. we'll get those up for you just as soon as we can. today, it's down pretty much across the board. the ibex shedding 0.12%. the cac 400.15% the. the xetra dax is also down 0.1%. the ftse 1100, same thing. pretty consistent story across these indexes here. it's a big week for earnings, too. in the meantime, let's take a look at the bond wall. it's been interesting, actually, to see the lack of action, lack of attention markets have been paying he
. >> japan is facing a $255 million euro loss for philips. >>> cutting a key interest rate by 25 basis point is the bank of india. >>> and the boj is keeping tune rate until there's a significant drop in unloimt. >>> and ahead of today's parliamentary hearing, italy's economic mip sister takes grilli takes center stage. >>> all right. reunited. back together. >> so nice. >> you know that song? >> i sang that to you the last time. we've had a couple of reunions and a series of time spent apart. >> how are things sthp. >> they are great here. how was davos? >> so far, gone, in the distant memory. don't worry about it for another year. plenty to worry about today, though. >> korea. >> on today's show, plenty of good stuff coming up. we're going to be in madrid as the prime minister is reportedly releasing a plan to relief some of the pain of austerity. >> then it's south korean steel giant posco reporting quarterly earnings today. we'll have the latest live from seoul at 10:15. and it's day one of the fomc meeting. economists are awaiting more clues from the stimulus program. we'll be live in n
continues its weakening trend both against the dollar and the euro. right now we have dollar/yen at 88.12. the euro is at 115.444. triggers are selling the yen on speculation the bank of japan will take further monetary easing steps. >>> and that is going to wrap it up for biz tonight. let's check in now to see what's happening with the markets. ♪ >>> thousands of people waiting to go home. tons of debris waiting for disposal. vast tracks of land waiting to be restored. overcoming the challenges of japan's 2011 disaster won't be easy, but step by step people are moving forward. find out how on "the road ahead" every wednesday at 1:00 p.m. japan time right here on "newsline." >>> the people who oversee nuclear safety in japan are still finding their feet. they got to work at the nuclear regulation authority in september after the government merged two other agencies. >> reporter: he is doing a job that has not been done before. he's the new chair of a new agency. he says he's committed to making decisions based on the evidence, something he says that was hard to do before the accident
are mosquito nets and aids tests. he's invested 30 million euros in the water filter project. it still pays off. for every ton of co2 he saves, vestergaard frandsen gets climate certificates, which he in turn can sell on the carbon market. >> in the first six months of operation we reduced carbon emissions by 1.35 million tons, which has been sold already to buyers who see this as highly charismatic carbon credits. because it offers carbon offset and it does good. >> 400 kilometers away lies kenya's capital nairobi. the certificates are sold from here through a partner company and this man, tom morton. morton sells the certificates mainly to businesses in europe and the u.s., companies that want to offset their own carbon emissions. he passes on most of the money to vestergaard-frandsen, about 10 million euros in the past year. tom morton considers the water filter project highly sustainable because it's stringently controlled. >> carbon finance is about being paid for outcomes. and if you get it wrong then you are not paid. and so there is a much greater incentive to have a very robust system
. on the currency markets, euro/dollar, the euro has been up to 30-month highs against the swiss franc. trying to crawl back some gains. dollar/yen, 88.84. today the yen is a little weaker today on japanese reports minister's saying he was regretful his comments will be misinterpreted. aussie/dollar, 1.0517. we begin to focus on what's going on in rio. let's bring you up to speed with the rest of the news out of asia. li sixuan joins us for the first time out of singapore. >> thank you, ross. asian markets finished on a difficult note. the shanghai composite lost about 1% today, extending losses for the second day after krit swiss downgraded china life. the hang seng ending lower by a touch. no curbs were introduced by the executive yesterday. taiwan's taex is down over 1% led by technology shares. tsmc shares ended a touch higher before its results of announce wantme wantments. it posted a 32% jump meeting forecasts. but the company expects q1 revenue to fall due to seasonal factors. elsewhere, the nikkei is finished just a tap higher. sharp shares jumped over 7% on the back of tv joint ventu
policy response generally to the european union, the euro project, i should say. we have the euro group separately meeting. we have this little issue of cypress. in terms of gdp, it's little. politically, though, it could be much more significant. tie this altogether for us. how important is an essential change of power in germany to these continued effort to resolve the crisis in cypress or other member states? >> i think the key issue is that germany is a big importer from spain, italy and the periphery. if the german numbers weaken, we'll see that later in a periphery. >> especially through spain. >> ultimately, this is really an economic story. the periphery are a lagging indicator of what's going on in germany. my concern is sooner or later, these peripheral equity may start to be under pressure again. what are your positions on debt? >> i think at this stage we're still comfortable with the core. the reason, there's probably another risk off take his. whatever the reason behind it, it tends to protect the periphery, not the core. for example, france continues to perform very, very
to improve the country's flagging economy. now, the euro's trading lower against the yen, as many players expect few moves from the european central bank. its policy makers are scheduled to meet thursday. euro/yen, 113.92-97. >>> looking at other markets in the asia pacific, south korea's kospi is trading modestly higher. 1,999 at the moment. let's take a look at australia. the benchmark index is trading higher by .4%. 4,710. >>> well, the world's largest consumer electronics show has opened in las vegas. crowds are gathering around ultra high-definition tvs. >> welcome to las vegas. >> more than 3,000 companies are showcasing their latest products at the consumer electronics show. they're shoelg off 4k tvs. the screens have four times the resolution of conventional high definition images. south korea's samsung electronics is the world's largest tv maker. people there have unveiled 85-inch and even 110-inch models. their tvs provide smooth streaming of online videos and voice-operated channel selection. sony has been selling 4k tvs since last year. the japanese electronics maker is the fi
worried about the euro, the fiscal cliff, saw it as a safe currency. with the rest of the world stabilizing everyone's looking at the u.k.'s underlying fundamentals, no growth, lack of competitiveness, banks talking about weaker sterling. sterling looks vulnerable. >> what happens with the government's finances? the ocd's come out said public spending for 2012, 49% of gdp. it was 49.6% 2011. it was supposed to go down, it went up. >> the gdp numbers were much weaker than expected. we thought there would be a decent recovery in activity. it's than public spending overshot, it's that gdp has undershot. from the ratio point of view you've ended up with a higher level of public spending. >> when you talk it weakness in sterling, what is hsbc saying -- >> against 1.8150. not a huge fall but sterling is one of the weakest of the -- generally soft currencies over the next few months. >> before you go, let's move away from the u.k. just give us your -- your general view of how 2013's going to shape out on a global economy. >> it's a great rotation in the sense that i think we'll see a d
. oil dipped below $93 a barrel this morning on news that the euro zone unemployment is at its highest level since 1999. satellite tv provider dish network made a bid for clearwire despite the current deal to sell it self to sprint. speculation is swirling that a new cheeper version of apple's iphone may be in the works as the company struggle tolls regain ground in the smartphone wars. the "wall street journal" reports a plastic shell could replace a pricier aluminum casing that it has right now. 14% of world wide smartphone shipments came from apple compared to samsung's 31%. fisher price is recalling about 800,000 rock and play sleepers due to the risk of mold exposure. early birds will have to wait for their tax returns this year. the irs announced it will not begin taking 2012 filings until january 30th, more than a week later than usual. that's due to delays tied to the fiscal cliff deal. meanwhile, you may have heard about an idea getting some currency shall we say online that could solve the nation's latest fiscal crisis, the debt ceiling. a white house petition to mint trillio
. the euro is trading higher against the yen. let's take a look at other markets in the asia pacific. the kospi is trading lower and in australia the benchmark index is trading higher at 4,724. >>> chinese drivers are steering clear of new cars. directors reported a 5.3% drop over the previous year with less than 1.2 million units sold. toyota registered their first declining sell since entering china ten years ago. sales at honda shrank too. mazda's dropped by 12.9%. the japanese government nationalized the senkaku islands in the east china sea. china and taiwan claimed the islands and it pushed consumers to boycott products. here is a recap of markets. >>> five men appeared in in a new delhi court monday. the men have been charged with raping a 23-year-old woman on a bus. they threw her from the vehicle. she died two weeks later in the hospital. the men heard the charges without defense lawyers present. many lawyers are avoiding the case because of the scale of public outrage at the crime. the trial is expected to be closed to public and media. protesters have been demanding harsh
with the euro crisis, then you have something that is a shock that would not be systemic become systemic and threaten the entire system. the only thing that is truly liquid is cash. the vast majority of us banks today -- u.s. banks today and european banks would already be compliant with these rules. i would go as far as to say that bear stearns would have in compliance with these rules, for instance. , what about taking a chance on the lottery? it has paid off for a couple of people in spain. winning ticket holders have seized more than $1 billion in the national lottery. they have been celebrating their luck. the top ticket was around $260,000. new austerity measures mean they will pay 20% income tax on their winnings. >> great, great, now i'm fine. i was very nervous a while ago, but now i finally believe it. , i have three sons and they are unemployed, so i will help them. this will make me happy, to be able to help my dearest ones. >> i'm very excited because i really needed this. now that i have one, i am very lucky. , orthodox christians are celebrating christmas. they gathered in
countries of the euro zone hit a record high in november according to figures released under an hour ago. nearly 12% of 330 million people in 17 countries were unemployed. that means 19 million people are jobless. 2 million people at the same tired year ago. the european economy has been struggling with huge debts in the aftermath of the global banking crisis. rebels in northern myanmar say the army is continuing its air and ground assault against them. we have obtained these pictures of the fighting. the military reportedly attacked hilltop positions belonging to the independence army on monday. the only ethnic minority group that has not reached a truce with the government. the chinese government is reportedly looking to stop using controversial labor camps that critics say violate fundamental rights. the system has been used for years to silence political opponents. it allows chinese authorities to keep citizens locked up for years without charge or trial. now this report. >> with word of what could be a momentous decision, this man, supported by his wife, slipped away from authoritie
? >> a lot of things have changed. it has affected the move in davos. a year ago, skepticism about the euro. today, people are happy with what they see. things have improved. there are reasons for that. it is not just a mood swing. there are a least cordial good reasons -- four good reasons. the countries in the south have made real adjustments. exports are growing. the fiscal deficits are getting smaller. that is adjustment of the national level nationthat is necessary. we have much tougher rules on how to coordinate our government policies. there was criticism about the design of the union in europe that monetary policies are the centralized. achilleas if we have coordination. that is better now that used to be. -- that can only work if we have coordination. that is much better now the is to be paid capital has gone up for most banks. we're supporting countries through the imf. there is restructuring in greece and portugal. we have a special program in spain. we have closed some situational gaps in the design of the union. we created the bailout fund. they are doing more things about omt.
.47 to 50. the euro/yen is also lower. that pair at 121.71 to 74. many market players are on the sidelines waiting for the release of u.s. gdp and jobs data later in the week. the kospi trading higher by .4 of a%. 1,948 and in australia the benchmark index is trading higher 4,873 this tuesday morning. the u.s. agriculture chief has welcomed japan's easing of impact restrictions on its country's beef. it gives u.s. cow farmers a bigger steake in the market. they decided to allow imports of meat from american cattle aged 30 months or younger. the current limit is 20 months or younger and was set seven years ago to provent risks of bsc or mad cow disease. the u.s. will continue working on eliminating trade bar yours for high quality and safe u.s. food and agriculture products. the u.s. will keep trying to expend its exports. ron kirk called the decision a significant and historic step in expanding the american beef trade with japan and along with it exports and jobs. that's the latest in business for this hour. here is a check on markets. >>> thousands of refugees have been landing in recent
numbers and determine how the u.s. economy is doing. euro/yen 104.7 to 50. >>> japanese workers may have a few more yen in their pockets if union leaders get their way. labor and business leaders are discussing a proposed wage hike. >> translator: a wage increase is a way to ending deflation. it's time for businesses to invest in human resources and not cut corners with workers earnings. >> koga asked for an increase of wages much 1%. he said raises based on seniority should continue. the leader of the business federation opposed the union's demand. he said labor leaders are ignoring the reality of today's business climate. >> translator: this year workers and managers need to share a sense of crisis. we need to have constructive discussion. it's critical for us to do so, to ensure businesses survive and grow. people need stable employment. >> he said the current economic situation leaves no room for raising wages across the board. he said struggling firms may be forced to postpone or even cut regular raises. >>> manufacturers have long been seen as leaders of japanese industry, but a ne
fraud now cost europe 1.5 billion euros a year. criminals are hacking into businesses and stealing from individuals too. >> all around the world, cyberattacks are hitting the head lines. >> threats can come from anywhere in the world. but today comes a warning that cybercriminals may find a particularly easy base in africa. >> i think what you see in africa, when you see the technological development increase, you also see that african organized criminals and european organized criminals, they set off bases there where the infrastructure is, and also might be a weaker legal system. >> foreign computer fraudsters will be a major target at the new european cyber-crime center, or e.c. 3 that opens today in the hague. >> this is an example of microcamera used by camera. >> detectives here know many of the tricks of the trade, such as hidden mobile phones which transmit details of pin codes after filming them through tiny holes. they've also built a cage, a room that wire signals can't penetrate. this prevents criminals from moving data remotely from devices which may contain evidence of fra
. quick check of currencies, the euro/dollar the focus of a debate this morning on "worldwide exchange." a lot of people saying not so fast if you think that the rising dollar in tandem with rising risk is going to be a theme of the year. today we're seeing the euro/dollar give up .1% to 1. 1.3069. and the dollar/yen after reports out of japan saying there will be coordination between the bank of japan and fiscal authorities to try and get to the 2% inflation target. nothing too concrete. again, the proof will be in the poudre figure i can use a -- in the pudding if i can use a popular phrase this side of the bond. back to you. >> kelly services. i like that -- talent. talent, kelly. >> talent at work. >> talent at work. thanks. >>> coming up, the nation's biggest banks preparing to post quarterly results in the coming days. the inside line next. >>> first as we head to break, a look at yesterday's winners and losers. at 1:45, the a >>> that's hard. >> you stink. the wing and a fractured beak.o surgery was successful, but he will be in a cast until it is fully healed, possibly several
look at the euro versus the dollars, wow, euro is screaming today. you look at the euro/yen, that's screaming as well. the dollar/yen is screaming as well. so the dynamic of the yen continuing to be under pressure. will this be a huge move? many think, if you talk to some of the japanese officials, they're say it's just getting back to a reality after the end was pretty much decimated about a year ago with respect to too strong relative to the other currencies. no matter how you slice it, all that meats is where we are now and where we're going in the future. >> thank you we'll find out the latest movements in energy. sharon, take it over. >> it's all about algeria. a lot of traders are paying attention to the ongoing hostage situation at the gas field where islamist militants had attacked that facility and still holding some folks hostage there. we have learned from the algerian news agency that about 45 hostages, including some americans had escaped the complex, but still bp is confirming that the situation remains unresolved. it tellses it has confirmation that five of its empl
,000 in the u.s. is being shipped to europe today. if the euro is strong and the economy's stable when it arrives, all is well. but if the euro gets devalued or the banks or the stocks are in trouble, this american-made product can find itself facing some real hurdles.
probably years and years to resolve. in the short term, the u.s. you can in the long term, the euro crisis is very substantial. >> let's add one more concern there apparently seems to be new concerns about brazil, a country that is supposed to be the economic dynamo, but now apparently seeing growth slowing. what's happening? >> brazil seeing trouble now. their main export is iron ore to china. with the slowing growth in china, china has now a surplus of iron ore, they are seeing less sales. but brazil has a lot of other things that might be helpful in the long run. they have the presalt oil, which could be billions and billions of barrels of oil that they will start coming on stream in the next five or ten years. they have a very strong agricultural economy. brazil actually, in the last quart earthquake the third quarter, grew much slowerer, .6%, the u.s. grew at 3.1% the third quarter. brazil has a way to go hopefully, able to rebound p >> hopefully indeed. all like to rebound. hal sirkin, a partner at the boston consulting group, oversees foreign markets. thank you very much. >> you're
is at 1.877%. the dollar this morning after the euro picked up strength last week, the dollar is stronger against the euro and the yen and the pound. right now, dollar/yen is at 88.79. gold prices this morning up about $5.80. $1,6933. >>> german chancellor angela merkel is hoel hosting french president francois hollande and his government, his entire government in per lynn today. festivities mark 50 years since the treaty of friendship was signed. that's knight nice. a joint cabinet meeting and parliamentary session is being held also. today's events come as the two countries struggle for a common vision as crisis hit europe. and it's nice that -- >> friendship? >> yeah, after that cold and nasty occupation thing in world war ii and all. meantime, in brussels, european finance ministers are meeting. they're expected to give their approval to allow 11 states to start preparations for imposing a tax on all financial market transactions and measures likely to unsettle banks and houses. for more on the story coming out of europe today, let us head to london to kelly evans who is standing by t
with the impression day one day two that the whole euro crisis and the beginnings of a recovery was one of my early impressions but tail end of the week the common theme that's running through all of that of course is the jobs crisis and especially around youth and youth unemployment. i would tell you that it's on everyone's lips that we're seeing a whole generation of young people, especially here in europe which is a very big topic, but it's also a big problem in the emerging world. i would also say an unintended consequence of america's energy advantages being talked about in nearly every meeting. unintended consequence that america now suddenly won't be buying all this oil. that america won't be sending all their troops. that america won't. i dare say it's been talked about more here than it is in america. liz: let's drill down on that, so to speak. and that is because we are apparently going to be the world leader, take over from saudi arabia as the biggest output nation of oil. to me that is quite fascinating. but you say a disadvantage because why? we'd be pulling our business, we'd be pulli
. if the euro is strong and the economy's stable when it arrives, all is well. but if the euro gets devalued or the banks or the stocks are in trouble, this american-made product can find itself facing some real hurdles. the shop that wants to order it may be unable to get a loan for its inventory, therefore, the instrument never gets shipped. or the customer who wants to buy this guitar may find that his money is now worth so little he can't afford it. and if this drought and the revenue stream continues pushing more businesses and more governments toward default on their debt, then there's a risk of the whole market drying up. so, everyone knows each time a shipment arrives in europe like this one, unpredictable market forces here could undermine the value of those guitars and force layoffs back home. >> the last few years just thinking about the economy in general, it's kind of a generalized fear. >> reporter: for now they control what they can. >> if we do a better job when somebody's looking to buy a guitar, they'll look more to our stuff than the other stuff. over time. >> reporter: an
today when alcoa reports after the closing bell and unemployment in the euro area hit a record 11.8%. red alert. the united states could default on its debt in five weeks in congress doesn't raise the debt kree ceiling. half a month earlier than expected. america could be in default as early as february 15th and almost certainly before march 1st. despite extraordinary measures taken by the treasury department to delay that from happening. on that day, the luu.s. will ha $9 billion coming in to the treasury's coffers. $52 billion going out. committed spending, including social security checks, paying f active duty military. that's what they are fighting in washington. how to cut that spending. >> that math does not add up. it cannot work. >>> so it wasn't exactly point/counter point. because piers morgan didn't say much when he sat down with alex jones, the guy who created this petition to have piers deported because is he an outspoken advocate of guns and gun control. jones went completely into rant mode last night. here is what he said. >> i'm here to tell you, 1776 will commence
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